What is the validity of the Electoral Bonds in India?

Electoral Bonds were introduced in the Union Budget 2017-18 in order to make the funding in elections transparent. These bonds are interest-free instruments that can be issued on a non-refundable basis. Such bonds have the validity of 15 days from the date of such issue whereas any person who is a citizen of India or any company incorporated in India can subscribe to such bonds. These bonds can be purchased from designate branches of SBI against cheque or digital payment only. The eligible political parties can redeem such bonds.